vegaskin210(I believe)
I do not believe Troy is kicking himself for diluting the stock one bit.
He can do a reverse split or buy back for whatever he and Knox sr. decide since they control 69.7% of all common stock. He and Knox sr. can turn in all of their common stock if they want to and after a reverse split or buy back takes place they can then issue themselves whatever amount of stock they want to acquire as a bonus or they can just convert any part of their series "c" preferred shares at a conversion rate of 1,000,000 common shares for each(1) share of "c"preferred they were freely granted by their own decisions at a board meeting.
I do not think that under the Nevada Incorporation Laws they even have to report these actions. Nevada laws are extremely leient and favorable to management and directors.
I believe this is what I read from a previous post on IHUB on the rules of icorporation that was posted my an IHUBER a week or so ago.
I know that Troy, a couple of weeks ago, during the negative discussions on this site even volunteered to forgo his 100,000,000 shares. I am pretty sure, but not positive, the figured mentioned was 100,000,000 because I just recently read he has 62,000,000+ common shares.
But in reality Troy and his other 2 directors can do anything that they want to do.
They are very long time friends, have been involved with Troy and LFBG also for a long time. In no way can they or should they be considered outside directors in any sense of the word. They are former officers of the company and I believe Knox, sr was even a very high senior officer of LFBG. I want to say either Chairman or President of LFBG at one time.
Their is nothing wrong with this, but I am stating what I believe to be a very active fact. I think we all should be aware of this if it is nothing more than having this knowledge. It would definitely be valuable at times in explaining to ourselves what might be happening in certain circumstances.
If any of what I have said is incorrect I would not mind one bit in being so informed.
I am still holding LFBG long, but I do like to have as many facts as possible to help guide me and inform myself before I make investment decision. Not that know things such as I have just stated seemed to have made any difference in my investment decisions in the past.
These things are just nice and convient to know. You never know when they can/ would be invaluable.
AI
